Selective Insurance Group (NASDAQ:SIGI) Reaches New 52-Week Low - What's Next?

Selective Insurance Group, Inc. (NASDAQ:SIGI - Get Free Report) shares hit a new 52-week low during trading on Wednesday . The company traded as low as $80.29 and last traded at $80.52, with a volume of 77846 shares changing hands. The stock had previously closed at $82.53.

Analyst Ratings Changes

SIGI has been the topic of a number of analyst reports. Keefe, Bruyette & Woods restated a "market perform" rating and set a $93.00 target price (down previously from $116.00) on shares of Selective Insurance Group in a research report on Friday, February 7th. Morgan Stanley decreased their target price on shares of Selective Insurance Group from $95.00 to $87.00 and set an "equal weight" rating on the stock in a research report on Monday, February 3rd. BMO Capital Markets upgraded shares of Selective Insurance Group from a "market perform" rating to an "outperform" rating and increased their target price for the stock from $95.00 to $105.00 in a research report on Wednesday, October 30th. Finally, JMP Securities restated a "market perform" rating on shares of Selective Insurance Group in a research report on Thursday, January 30th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and an average price target of $98.71.

Selective Insurance Group Price Performance

The company has a current ratio of 0.34, a quick ratio of 0.34 and a debt-to-equity ratio of 0.17. The firm has a market cap of $4.77 billion, a price-to-earnings ratio of 24.38 and a beta of 0.61. The company's 50-day moving average is $89.77 and its 200-day moving average is $92.11.

Selective Insurance Group (NASDAQ:SIGI - Get Free Report) last posted its quarterly earnings results on Wednesday, January 29th. The insurance provider reported $1.62 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.99 by ($0.37). Selective Insurance Group had a return on equity of 7.33% and a net margin of 4.26%. Equities research analysts predict that Selective Insurance Group, Inc. will post 7.62 earnings per share for the current year.

Selective Insurance Group Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 3rd. Investors of record on Friday, February 14th will be paid a $0.38 dividend. This represents a $1.52 annualized dividend and a yield of 1.94%. The ex-dividend date of this dividend is Friday, February 14th. Selective Insurance Group's payout ratio is 47.21%.

Hedge Funds Weigh In On Selective Insurance Group

Several institutional investors and hedge funds have recently added to or reduced their stakes in SIGI. Creative Planning lifted its stake in Selective Insurance Group by 12.1% in the 3rd quarter. Creative Planning now owns 36,454 shares of the insurance provider's stock valued at $3,401,000 after purchasing an additional 3,943 shares during the last quarter. Raymond James & Associates lifted its stake in Selective Insurance Group by 10.9% in the 3rd quarter. Raymond James & Associates now owns 118,944 shares of the insurance provider's stock valued at $11,097,000 after purchasing an additional 11,713 shares during the last quarter. Allspring Global Investments Holdings LLC lifted its stake in Selective Insurance Group by 1.9% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 15,166 shares of the insurance provider's stock valued at $1,415,000 after purchasing an additional 277 shares during the last quarter. Private Advisor Group LLC lifted its stake in Selective Insurance Group by 8.4% in the 3rd quarter. Private Advisor Group LLC now owns 4,860 shares of the insurance provider's stock valued at $453,000 after purchasing an additional 377 shares during the last quarter. Finally, Ausbil Investment Management Ltd bought a new position in Selective Insurance Group in the 3rd quarter valued at approximately $401,000. Institutional investors own 82.88% of the company's stock.

About Selective Insurance Group

Selective Insurance Group, Inc, together with its subsidiaries, provides insurance products and services in the United States. The company operates through four segments: Standard Commercial Lines, Standard Personal Lines, E&S Lines, and Investments. It offers casualty insurance products that covers the financial consequences of employee injuries in the course of employment and bodily injury and/or property damage to a third party; property insurance products, which covers the accidental loss of an insured's real property, personal property, and/or earnings due to the property's loss; and flood insurance products.